Maplebear Inc. (NASDAQ:CART) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-eight research firms that are currently covering the company, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $51.04.

A number of research firms have commented on CART. Bank of America raised their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Loop Capital reduced their price objective on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Wedbush lowered their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research note on Friday, April 11th.

Maplebear Price Performance

NASDAQ:CART traded up $1.54 on Tuesday, hitting $45.66. 2,998,841 shares of the company's stock were exchanged, compared to its average volume of 4,068,243. The firm has a 50-day moving average price of $41.16 and a 200-day moving average price of $43.53. The company has a market cap of $11.99 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts expect that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,165 shares of company stock worth $1,541,785. Insiders own 26.00% of the company's stock.

Institutional Investors Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Proathlete Wealth Management LLC acquired a new stake in Maplebear during the 1st quarter worth $26,000. Jones Financial Companies Lllp lifted its stake in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the last quarter. Allworth Financial LP raised its position in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.